Lloyds Banking Group PLC Director/PDMR Shareholding (3677Y)
May 16 2016 - 8:34AM
UK Regulatory
TIDMLLOY
RNS Number : 3677Y
Lloyds Banking Group PLC
16 May 2016
16 May 2016
LLOYDS BANKING GROUP PLC ("GROUP") - NOTIFICATION OF
TRANSACTIONS BY PERSON DISCHARGING MANAGERIAL RESPONSIBILITIES
("PDMR") IN ORDINARY SHARES OF THE GROUP OF 10 PENCE EACH
("SHARES")
Group Chief Executive Acquisition of Shares
As described in the Summary Remuneration Announcement published
on 25 February 2016 and disclosures in the 2015 Annual Report and
Accounts published on 8 March 2016, the Group Chief Executive's 4
per cent additional increase in base salary is delivered monthly in
Shares and the Shares will be held until the Government has sold
its shareholding in the Group.
In this respect, the Group was notified on 16 May 2016 that,
after the settlement of income tax liabilities and National
Insurance contributions, 2,873 Shares were acquired on 16 May 2016
on behalf of António Horta-Osório in respect of his May 2016
salary. The acquisition price was 65.7509 pence per Share.
Group Chief Executive Deferred Bonus Award for 2012
Performance
The Group further announces that António Horta-Osório, today
acquired, after the settlement of income tax and National Insurance
contributions, 1,437,096 Shares (for nil consideration) following
the vesting of his 2012 Deferred Bonus Award. The Group Chief
Executive is required to hold the Shares for a further two years
until 26 March 2018.
The Group Chief Executive's bonus for 2012 performance, awarded
in March 2013, was deferred into Shares (Deferred Bonus Award) for
a period of five years from March 2013 with vesting possible after
three years subject to the Group's share price reaching 73.6 pence
for a given period of time, or the UK Government selling at least
33 per cent of its shareholding in the Group at prices above 61
pence, in either case at any time during the five years following
grant. The share price condition was satisfied on 20 November 2013
and accordingly the Deferred Bonus Award has vested.
These disclosures are made pursuant to the Financial Conduct
Authority's Disclosure and Transparency Rule 3.1.4. The
transactions took place in the UK and the Shares are listed on the
London Stock Exchange.
ENQUIRIES:
Investor Relations
Douglas Radcliffe +44 (0) 20 7356 1571
Group Investor Relations Director
Email: douglas.radcliffe@finance.lloydsbanking.com
Group Corporate Affairs
Matt Smith +44 (0) 20 7356 3522
Head of Corporate Media
Email: matt.smith@lloydsbanking.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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